Higher mortgage rates not hurting local market - yet

Experts expect low interest to vanish shortly

2:17 AM,
Jul. 6, 2013

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Home buyers who've grown to expect rock-bottom mortgage rates are having second thoughts now - as rates in recent weeks have risen a full percentage point from all-time lows.

Rates eased a little last week, to 4.48 percent nationally, after climbing to 4.61 percent the previous week - the highest in two years, according to Bankrate.com. The local rate is generally similar, but wasn't available this week.

The days of 3.5 percent rates on 30-year, fixed-rate mortgages won't return for long, if at all, experts say. ...